5 12 business records
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Transcript of 5 12 business records
SunflowerHelianthus
• Availability: year-round with peak supplies June-October
• Color: yellow• Unique Characteristics: Air-dries well; different
cultivars are commercially available with varying sizes.
• Large mass flower: Round form provides mass. Combines well with summer and autumnal colors.
• Longevity: days 7-10• Sold by bunch (5 – 10)• Price: $6 - 8
Profit & Loss Statement
• Profit & Loss statement – financial statement that shows all income and expenses for a period of time
Financial Statements
• Profit and loss– Shows income– Shows expenses– Difference is a:
• Profit (made more than you spent)• Loss (spent more than you made)
Sample Monthly PL• Income
– Flower sales: $5,600– Wedding sales: $4,200– Total Income: $9,800 9,800
• Cost of Goods $3,200 -3,200• Gross Profit 6,600• Expenses
– Rent: $1,200– Salaries: $3,200– Insurance: $ 200– Utilities: $ 500– Vehicle $ 700– Taxes $ 900– Advertising $ 200– Total $6,900 -$6,900
• Net -$ 300
Balance Sheet
• A financial picture of a business at a particular moment in time. Shows assets, liabilities, and owner’s equity.
• + What you own (asset)– What you owe (liability)= Net Worth (equity)
Assets
• Everything of value that is owned by a person or company – Buildings– Vehicles– Supplies– Bank accounts– Customer base– Goodwill– Trademarks or copyrights
Liabilities
• Anything for which a company is legally bound or obligated.– Debts - loans– Bills that are due and not paid yet– Payroll taxes withheld but not sent in yet.
Equity
• Owner’s equity is the owner’s rights to the assets of the business. – Amount of money that the owner puts in– The amount of money made that an owner
does not draw out.
Sample Balance sheet• Assets• Current Assets
– Cash 250– Bank 8,500– Accts Rec 4,200– Inventory
2,200• Property
– Equip 5,000• Intangible
– Goodwill3,000
• Total 23,150
• Liabilities• Current Liabilities
– AP 600– Loan 3200– Payroll 800
• Total Liab 4,600
• Equity– Owners Cap 1,000– Retained Earn 17,550
• Total L&E 23,150